Ooredoo Group announced revenue of QAR 22bln for 9M 2021

Ooredoo Group announced revenue of QAR 22bln for 9M 2021

Doha, Qatar: Ooredoo Q.P.S.C. (“Ooredoo”) - Ticker: ORDS today announced results for the nine months ended 30 September 2021. Financial Highlights: ­­­ Revenue for the nine months ended 30 September 2021 stood at QAR 22.1 billion, an increase of 3% compared to the same period last year. Mainly driven by growth in our home market Qatar, Indonesia, and Tunisia. Excluding FX impact, revenue increased by 6%. Group EBITDA for the nine-month period was QAR 9.9 billion with a corresponding EBITDA margin of 45%, driven by growth in Indonesia, Kuwaitand Algeria. The EBITDA growth rate stood at 7% and at 10% excluding FX impact. Consolidated customer base increased by 2% to exceed 120 million due to strong performances in Indonesia, Oman, Algeria, and Iraq. Group Net Profit attributable to shareholders turned negative mainly due to FX losses and the impairments in Myanmar. The negative impact was partly offset by profit from the sale and leaseback of Indosat Ooredoo’s tower assets (QAR 1,000 million) and reversals of COVID-19 FX provision. Excluding these one-offs and FX impact, Net Profit increased by 41%. Operational highlights: On September 16, Ooredoo Group and CK Hutchison announced the signing of definitive transaction agreements for the proposed merger